HOT TOPICS:   Housing affordability  |  NZ$   | Inflation                                                     RESOURCES:    Economic calendar   |   Median multiples

The comment stream

Recent comments

Reader poll

In your opinion, what's the last thing someone should borrow money to pay for?

Choices

Join the Interest community to be a registered commenter so you can:
- Edit your comments
- Avoid the CAPTCHA
- Vote on comments
Register Here

Already registered? log back in here ..

Forgotten your password? No problem! Click here

Kiwibank eases home loan conditions by dropping its LVR constraint for its lowest rates

Posted in News

Kiwibank have withdrawn the 30% equity condition from their three 4.99% specials.

That condition applied to their 6 month, 1 year and 2 year fixed mortgage rates, each of which is currently priced at 4.99%.

They continue to deem these as ‘special’ and ‘limited time’ rates.

This easing of loan conditions comes as the traditional 'Spring' home loan market competition heats up in an unusual way this year - prices are rising, but sales volumes are lagging because of a significant shortgage of listings.

Banks are competing hard for business in a slow growing market.

You can find all current mortgage rate offers here »

-----------------------------------------------------
Mortgage choices involve making a significant financial decision so it often pays to get professional advice. A Roost mortgage broker can be contacted by following this link »
-----------------------------------------------------

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment in the box on the right or click on the "'Register" link at the bottom of the comments.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current Comment policy is here.

6 Comments

And at the home of the Oz

And at the home of the Oz banks:
Tighter lending criteria and persistently high house prices are holding back a stronger recovery in the housing market, while more houses are worth less than their mortgages, a new report says.
The JPMorgan Australian mortgage industry report shows that nearly 70 per cent of home refinance loan applications are being declined on the basis of insufficient income or inadequate loan-to-value ratios, as regulators push for stricter standards from lenders.
"We are tipping a barrier in terms of people's ability to refinance because of income and LVR issues," said Martin North, principal of Digital Finance Analytics, who contributed to the report.
He said that in earlier years the most common reason for a refusal was a change in the personal circumstances of the borrower.

Read more: http://www.smh.com.au/business/borrowers-hit-brick-wall-on-refinancing-20121016-27ob3.html#ixzz29R8qYJQg

I am being paid 4.75 % for

I am being paid 4.75 % for one year depo as of today from a NZ major - what does that tell yah! - flow counts- the rest is bollocks

It tells you thats a rubbish

It tells you thats a rubbish return?

Yes, I could not agree more -

Yes, I could not agree more - if UK, US, Japan and EU citizens can hardly repay zero cost of finance, what chance does a Kiwi have? - borrower default is staring me in the face - but cannot employ money elsewhere - certainly cannot risk having funds/securities hijacked in the UK & US by publicly authorised rehypothecation scams- local and central NZ government are forever unexpectedly bailing out the entitled.

Nonetheless, I remain hopeful

Nonetheless, I remain hopeful the ravages of falling interest rate deflation maybe coming to an end. Read more

"70% of home refinance apps

"70% of home refinance apps are being declined..."
A timely reminder that the mortgage machine is not friendly and that you are there to primarily help them, which is no guarantee of reciprocity.